Everybody thinks we are going to see 11K soon. The real question is, what happens after that number?
Will it drop like a stone right after 11K or will it continue to go up?
What do you think?
Any opinions?
Well Bitcoin already hit $11000 today but no one can really tell what will be the movement of the price in the next few days or in the future. What might happen is those people who bought on the dip will cash out their profits so we can see a slight down trend on the price and go back to $10000 or people will continue to buy to join the train. But for me it doesn't matter because we all saw that Bitcoin can reach $20000 mark, so it is not impossible that it will reach that price again or even hit higher than that. The only problem here is there is no way to predict on when it will happen again.
Bitcoin is the most important electronic currency. Most government subsidized funds entering and exiting the market are subject to bitcoin, so what will happen to the original electronic currency that affects the entire market?
The token's market dominance stood at about 40% on Wednesday. By my estimate, however, the dominance of the bitcoin market will clearly return to 75% in the entire sector.
I really see a 150% up trend in bitcoin for 2018.
Why? Yes, BTC still dominates. It has the largest user base and largest industry. However, it faces a challenge in scaling for wider use.
Bitcoin can not now handle 6 or 7 transactions per second. Compared with credit cards, they can handle thousands of transactions per second, so the criticism of bitcoin's ability to scale is understandable.
The challenge of scalability also leads to a high fee.
So what's the solution? That is the so-called network outside the chain, peer, second layer. To cite an example, take a look at the Lightning Network. Created by Blockstream, the Lightning Network allows transactions outside of Blockchain, thereby reducing transaction costs to almost zero and increasing speed and scalability almost limitless. And it's just started. As you can see from this map, more and more nodes as well as channels are being set up. It is growing exponentially.
In the coming months, we will see a dramatic improvement in transactions and more bitcoin use in these channels. Moreover, Lightning Network does not have any fees.
In other words, second-class networks address bitcoin issues - scalability and lack of liquidity. That could be a major reason why the bitcoin surge this year.
By the end of 2017, I predict that bitcoin prices will drop to $ 5,000 - but it is likely to climb to $ 60,000. Lightning Network will have a great impact on growth potential.
There are also other second class projects such as Rootstock, which allow similar calculations to that of Ethereum that is implemented through bitcoin. .
Attractive projects such as these can cause a significant increase in the MOF. I would dare say in the 60 to 70 percent field with a growth potential of 100 percent - and even more.
So you want to own btc, seeing the 25,000 usd bitcoin is premature!
